Which statement BEST reflects an evaluation of monopoly firms?

A) They are economically inefficient.
B) They have little or no market power.
C) Consumers are given more choices,lower costs,and higher quality.
D) Competition should replace all monopolies.

Question

Lauren Turner · Accepted Answer

Final Answer : A, Explanation :  Monopoly firms are often criticized for being economically inefficient because they have no competition to keep prices in check and are not motivated to innovate. This can lead to higher prices, lower quality products, and less consumer choice.

Which statement BEST reflects an evaluation of monopoly firms?

A) They are economically inefficient.
B) They have little or no market power.
C) Consumers are given more choices,lower costs,and higher quality.
D) Competition should replace all monopolies.

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Learning Objectives

Related questions

Which statement BEST reflects an evaluation of monopoly firms?A) They are economically inefficient.B) They have little or no market power.C) Consumers are given more choices,lower costs,and higher quality.D) Competition should replace all monopolies.

Definitions

Learning Objectives

Learning Objectives

Related questions

Which statement BEST reflects an evaluation of monopoly firms?

A) They are economically inefficient.
B) They have little or no market power.
C) Consumers are given more choices,lower costs,and higher quality.
D) Competition should replace all monopolies.